Argentina launches 2.5bn two-part bond

miércoles 5 de octubre de 2016 10:33 GYT
 

By Davide Scigliuzzo

NEW YORK, Oct 5 (IFR) - Argentina launched a 2.5bn two-part bond sale at the tight end of guidance on Wednesday in what was its first euro-denominated debt issue in 15 years, a source told IFR.

The borrower has set a final yield of 4% on a 1.25bn five-year bond and a 5.125% yield on a 10-year tranche.

That is the tight end of final guidance of 4.125% area and 5.25% area (+/-1/8), respectively.

Combined books shrunk to over 6.25bn from the 7.5bn seen earlier Wednesday after the borrower revised guidance several times on the trade.

BBVA, BNP Paribas and Credit Suisse are acting as leads on the RegS transaction. Argentina is rated B3 by Moody's and B- by Standard and Poor's. (Reporting by Paul Kilby; Editing by Natalie Harrison)